Capital Research Global Investors Increases Stake in Blackstone Inc. $BX

Capital Research Global Investors grew its position in shares of Blackstone Inc. (NYSE:BXFree Report) by 99.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,381,767 shares of the asset manager’s stock after buying an additional 3,178,133 shares during the quarter. Capital Research Global Investors owned 0.86% of Blackstone worth $983,690,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of BX. REAP Financial Group LLC purchased a new position in Blackstone during the 3rd quarter worth $26,000. Family CFO Inc purchased a new position in Blackstone during the 4th quarter worth $28,000. Ares Financial Consulting LLC purchased a new position in shares of Blackstone in the 4th quarter valued at about $28,000. Richardson Financial Services Inc. purchased a new position in shares of Blackstone in the 4th quarter valued at about $29,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Blackstone in the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX opened at $115.40 on Friday. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $190.09. The firm has a fifty day moving average of $119.22 and a 200-day moving average of $131.72. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $85.73 billion, a price-to-earnings ratio of 29.51, a price-to-earnings-growth ratio of 1.25 and a beta of 1.59.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The business had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same period in the previous year, the business earned $1.11 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. As a group, equities analysts anticipate that Blackstone Inc. will post 5.9 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were given a $1.16 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.64 annualized dividend and a yield of 4.0%. Blackstone’s payout ratio is 118.67%.

Insider Transactions at Blackstone

In related news, Director Ruth Porat purchased 355 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price of $123.04 per share, with a total value of $43,679.20. Following the purchase, the director owned 41,818 shares of the company’s stock, valued at $5,145,286.72. This trade represents a 0.86% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 2,868,069 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was bought at an average cost of $26.15 per share, for a total transaction of $75,000,004.35. Following the purchase, the insider directly owned 18,628,295 shares in the company, valued at $487,129,914.25. This represents a 18.20% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 12,355,303 shares of company stock valued at $264,789,896 in the last quarter. 1.00% of the stock is owned by company insiders.

Key Headlines Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BX shares. Morgan Stanley cut their price target on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Piper Sandler raised their price target on shares of Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Rothschild & Co Redburn cut their price objective on shares of Blackstone from $138.00 to $134.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Finally, Evercore restated an “outperform” rating and issued a $150.00 price target on shares of Blackstone in a report on Tuesday, April 21st. Twelve investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $151.05.

Check Out Our Latest Research Report on BX

About Blackstone

(Free Report)

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.

Further Reading

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BXFree Report).

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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